PRESENTATIONSComprehensive Annual Financial Report (CAFR) Presentation – Lauterbach and AmenJaime Wilke was present to provide the report from Lauterbach and Amen regarding the audit. Wilke said that Lauterbach and Amen was impressed by the professionalism and organization from the Village’s financial department. The following items were highlighted in the presentation:-Certificate of Achievement for Excellence in Financial Reporting. This is the highest level of reporting in the government role. The 2018 document will be submitted to the program.

-Independent Auditor’s Opinion – Issued an unmodified/clean opinion. This can be found in pages 1 and 2 of the financial tab document. There are no internal control issues to bring forward to the Board.

-Management’s discussion and analysis – 12 pages that provide the executive summary. This provides an overview of the major transactions for the year. Overall, there were positive results for the fiscal year for the Village. Sales tax showed a bit of a rebound in the General Fund with court fines and towing fees. Cost savings in the general fund with personnel and related benefits. The General Fund ended the year with a 69% reserve. The village has a minimum of 40 – 50%.The Water Fund also had positive operating income of $167,000. Bonded debt structure of the village is less than 18 as it was compared to 17. The last tab, statistical section, this is one of the required sections for the certificate of achievement program. It requires 10 years of trend information for financial data, non-financial data, operating indicators, revenue trends, long term debt, etc.

-Management Letter – this is where auditors have the opportunity to provide recommendations. One comment for the management report this year – related to an upcoming accounting standard statement. The new upcoming statement relates to post-retirement healthcare or retiree costs.RECOGNITION AWARDS1. Police Special Recognition AwardsChief Fisher recognized four officers for their actions this summer. A 911 call came in on Sunday, May 27th, 2018 about a child who was in the Fox River and was not moving. Officers Swoboda, Parr and Joswick as well as Master Sergeant Greg Minx from the Illinois State Police responded. Officer Joswick located the victim who was actually a 39-year old male 30 yards out from shore. Officer Joswick jumped into the river and swam towards the victim. Officer Swoboda arrived and noticed that the current was taking Officer Joswick and the victim downstream. Once officer Parr arrived he, Officer Swoboda and Master Sergeant Minx entered the river to get the victim to shore. Officer Joswick started CPR on the victim and Officer Parr and Master Sergeant Minx took over with lifesaving efforts until the fire department arrived. Unfortunately, the victim did not survive. Fisher said he was proud of the officers and their teamwork.

Chief Fisher awarded Officer Chris Joswick the Department Medal of Distinguished Service. Officer David Parr and Officer Mark Swoboda were awarded the Department Medal for Meritorious Service. Master Sergeant Greg Minx received the Chief’s Commendation for his actions that day in assisting North Aurora officers without hesitation.

PROCLAMATION1. National Apprenticeship WeekMayor Berman proclaimed Nov 12 – 18 as National Apprenticeship Week in the Village of North Aurora.

AUDIENCE COMMENTS - NoneTRUSTEE COMMENTS – None

CONSENT AGENDA1. Village Board Minutes dated 10/15/20182. Motion Authorizing the Required Contribution of $293.610.24 to the IMLRMA for the 2019 Coverage3. Travel and Expenses for Business Purposes for Dale Berman in the Amount of $174.004. Approval of an Ordinance Pertaining to the Prevailing Rates of Wages5. Bills List dated 11/05/2018 in the Amount of $658,769.22

NEW BUSINESS1. Approval of a Motion to Receive, Accept and Place on File the ComprehensiveAnnual Financial Report as of May 31, 2018 and Other Related Reports for the Fiscal Year Bill Hannah highlighted some items on the financial report:

Pages 3 and 4 - Statement of Net Position (balance sheet for the village as a whole). At the end of the year the Village had a total net position of $119 million. The Village had an unrestricted net position in governmental activities of $2.7 million.

Pages 5 and 6 - Statement of Activities - Income statement for the village. Positive change in net position for both governmental activities of $867,000 and business type activities of $278,000.

Pages 7 and 8 - Balance sheet for governmental funds - Assets of $20 million, liabilities of $5 million and total fund balances of just over $15 million for the year.

Pages 10 and 11 – Income Statement for all Governmental Funds - $14.4 million in revenues, $13.3 million in expenditures, total net changes in fund balance of $1.3 million. Total fund balances went from $13.7 million to $15 million for the year for Governmental Funds.

Pages 13 and 14 – Proprietary Funds - $31 million in assets and $6.6 million in liabilities for the Water Fund.

Page 15 – Income Statement for the Proprietary Funds - positive income of $278,000 on a full accrual basis.

Pages 17 and 18 - Statement of Fiduciary Net Position – Total contributions to the pension plan of $1.2 million. Net investment income of just under $1 million. Total additions of $2.2 million for our police pension trust fund.

Motion for approval made by Trustee Guethle and seconded by Trustee Carroll.

Trustee Curtis complimented Staff and the board members for working together and working within the budget.

4. Approval of an Ordinance Proposing the Establishment of Special Service Area 43in the Village of North Aurora (Springs at Orchard Road Residential Development)Motion for approval made by Trustee Guethle and seconded by Trustee Carroll. Atty Drendel said that the Village touched base with Continental Properties. Originally when it was annexed, was anticipated that the entire property would be commercial. Now it is residential and we have a commercial component to it. The residential portion is owned by Continental so there is not an association with that. There will be separate ownership of the commercial property. We are doing a separate SSA for residential and separate for commercial. Roll Call Vote: Trustee Guethle – yes, Trustee Martinez – yes, Trustee Carroll – yes, Trustee Curtis – yes, Trustee Lowery – yes, Trustee Gaffino – yes. Motion approved (6-0).